KeyHealth no longer under curatorship
The Gauteng High Court has lifted the curatorship of KeyHealth Medical Scheme, and the board of trustees was authorised to manage the scheme from 5 April. Council for Medical Schemes (CMS) chief executive […]
Industry News
New RSA Retail Bond allows investors to top up or switch into other bonds
National Treasury’s Asset and Liability Management Division officially launched its Top Up Retail Bond on 1 April, offering investors a return of 8.75%, with interest compounded quarterly, over a minimum investment term of […]
Satrix once again wins Morningstar award for best asset manager
For the second year in a row, passive manager Satrix Investments has won the award for Best Fund House: Larger Fund Range at the Morningstar Fund Awards South Africa for the risk-adjusted performance […]
Satrix wins big at listed tracker awards
Satrix Managers walked off with nine of the 26 awards presented at the fifth annual South African Listed Tracker Awards (Salta) event on 30 March. This is the second year in which Satrix […]
Asisa recommends that tax regime be left as it is when two-pot system is introduced
The Association for Savings and Investment South Africa (Asisa) says the tax regime for retirement savings should not be changed when the two-pot retirement system is introduced, but any changes should only be […]
Regulator unhappy with TransUnion’s handling of data breach
TransUnion is directly contacting the individuals whose personal information it knows has been impacted by the hack reported over a week ago. This comes after the Information Regulator (IR) expressed its dissatisfaction with […]
Inseta extends discretionary grant funding deadline
Inseta has extended the deadline for companies in the insurance and related sectors to apply for discretionary grant funding for 2022/23 from 31 March to 13 April. Applications will be accepted at Inseta’s […]
Payroll tax, surcharge on income tax will be considered to fund NHI
A payroll tax and a surcharge on personal income tax will be considered as additional sources of funding for National Health Insurance (NHI) once the necessary reforms “are ready”, the Department of Health’s […]
Basic income grant or NHI will result in tax increases, says Treasury
Large permanent increases in government spending, such as for a basic income grant or National Health Insurance (NHI), will have to be met by a permanent increase in revenue, which will mean higher […]
‘Geopolitical tensions shouldn’t mean diluting your offshore exposure’
Diversification, including offshore diversification, and other basic long-term investing pillars should not be disregarded because of volatility caused by geopolitical events, says Kondi Nkosi, the country head of asset manager Schroders in South […]
Life insurers with the most and least satisfied customers
Absa Life has the most satisfied clients among the country’s major life insurers, according to Consulta’s latest South African Customer Satisfaction Index for Life Insurance. The index is based on a survey of […]
Policyholders, investors ‘should be extra vigilant’ following TransUnion data breach
The Association for Savings and Investment South Africa (Asisa) has cautioned policyholders and investors to expect an increase in phishing attempts and approaches from criminals impersonating representatives from life insurers and investment companies […]
SA unit trust investors ‘more risk averse’ than foreign counterparts
South African investors are far more risk averse than their foreign counterparts, with only 19% of local collective investment scheme (CIS) assets in equity portfolios compared with 47% for all international CIS assets, […]
Hedge fund industry grows assets to R86.93 billion
Assets under management (AUM) by regulated hedge funds in South Africa grew 19%, while the number of funds continued to decline last year, according to figures released by the Association for Savings and […]
Bidvest Life wants to ‘change the narrative’ around income protection
FMI has rebranded as Bidvest Life in a move to become a consumer-facing brand and grow its market share by leveraging off the brand recognition of the Bidvest Group. “We want to box […]
Old Mutual’s profits double despite impact of Covid claims
Old Mutual turned in a strong performance in the year to the end of December, despite the negative impact of Covid-19-related death claims, with the group’s retail segments paying some R13 billion in […]
Auditor accused 3Sixty managers of ‘constructing evidence’
With new acting CEO Khandani Msibi at the helm in 2021 it might have seemed that the problems plaguing 3Sixty Life, the insurer owned by the National Union of Metalworkers (Numsa), would be […]
